PracticeConsultingPwC latest entrant to ‘web assurance’ market

PwC latest entrant to 'web assurance' market

PricewaterhouseCoopers has launched an 'electronic passport' designed to guarantee security and trust in large business-to-business transactions over the internet.

The system, beTRUSTed, will work by developing, managing and tracking ‘digital identities’ – numerical keys provided to individuals and companies that will be used in all business to business transactions over the web. The move follows growing concerns about security and advice from experts that existing firewalls, passwords and other hi-tech devices are less than adequate in combating security breaches.

In a world where distance no longer rules business transactions, meeting business contacts is often a practical unreality. Therefore, a digital certificate is viewed by many as the next logical step in guaranteeing trust for both parties involved in a business deal.

PwC said the digital identity goes a step further than current web assurance seals, which only protect consumers. beTRUSTed is designed to safeguard both consumers and businesses.

Alastair MacWillson, PwC partner responsible for the new service, said: ‘The issue of who to trust over a public network with millions of participants, and how much trust should be placed in their certificates and signatures, is as much a business issue as it is a technology one. While the technology continues to move forward the basic tenets of trust and legal issues are lagging behind. beTRUSTed will become a predominant provider of internet security services addressing these issues.’

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer